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Ep. 028 Fireside Chat: Making Sense of Accounting Metrics through Profit Measurement
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Το περιεχόμενο παρέχεται από το Business Breaks - All Things Business and Dante Healy. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Business Breaks - All Things Business and Dante Healy ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Episode Summary:
- Importance of Cash Flow and Profits
- A company can fail even if profitable without cash flow
- Fast-growing companies need to pay attention to finance and avoid bankruptcy
- Understanding customer profiles and behaviors is crucial for profits
- Risk management considerations for complex contractual arrangements
- Communication plays a vital role in financial decision making
- Maximizing gross profit is easier to understand than accounting metrics
- EBITDA and depreciation figures have pros and cons
- Managing Money
- Profits shouldn't be the only financial indicator
- Sustaining losses without profits leads to running out of money
- Pay attention to profits and the balance sheet to ensure enough cash for certain time periods
- John Byrne's personal company is healthy because he takes the money out as salary
- Measuring Profit Margins
- Gross profit margin, net profit margin, and operating profit are important indicators
- Understanding expenses and making changes can increase profitability
- Taking on Big Customers
- Small suppliers can fall into bad situations with big customers
- Maintaining a healthy profit margin is important when taking on big customers
- Dependence on one or two big customers can hurt a company
- Simplifying financial goals into three types of money: revenue, gross profit, and net profit
- Focus on maximizing gross profit to increase net profit
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